[peterk2001]

what if you have a HELOC opened but haven’t touched any of the money yet, do you still have a non-recourse loan in place that you can walk away from, or does it complicate the process????

[peterk2001]

what if you have a HELOC opened but haven’t touched any of the money yet, do you still have a non-recourse loan in place that you can walk away from, or does it complicate the process????

[peterk2001]

Walking away?? Just wondering if one had the misfortune of owning a home that was declared a total loss what would happen if you didn’t have much equity into the place and walked away….Let’s say you had a 90 or 100% loan with no HELOC and “gave the keys back” to the lender…I think there are 1099 tax consequences and your credit would be screwed up for years, but you might be able to preserve assests…

Is this feasable…I know this topic was posted before, but I am still unclear..Or do you need to declare bankrupcy to do this??

thanks

[peterk2001]

just wondering how you properly “structure” your assets to be able to walk away from something like this????

[peterk2001]

Unfortunatlety I don’t think one can predict the tops and bottoms of both the stock and real estate markets…Everything cycles and you have to be well diversified in both camps and hope that the dollar cost averaging approach will leave you looking good when you hit retirement age… Things move very quickly as I remember from the correction of the mid 90s emerging market stocks, where profits were erased in a matter of weeks….Makes me feel uneasy about adding to my foreign positions like FXI (china ETF)….Can’t put all your eggs in one basket

That being said , I wish I had a crystal ball…..

[peterk2001]

No problem….I understand but I resent being called a sucker by “Lookoutbelow”….I wasn’t after any get rich quick schemes, but just looking to diversify my portfolio….I have relatives in Vancouver and go up there every 2 months….I personally have seen in just my last 2 week stay there 3 for sale signs go pending in the 4 block area where they live….Where do you see that in San Diego?? No Where, thats where..

Interest rates are lower there, HELOCs are just 6%, and the immigrants coming in actually have money as opposed to our immigrants who drain our economy..Oh, and they have a strong dollar, budget surplus and natural resouces that we are dying for…

Yes I know they are near the top but may have a few years to run especially with the Olympics in 2010….Before you call me a sucker, just know I was trying to get some general investing ideas…There are many ways to go such as the canadian banks, REITS and construction stocks to indirectly play the real estae game….

I guess the 30% on Fidelity Canada fund YTD v. 9% on the S&P 500 index makes me a sucker…..I am no fan of Canada by any means, just tired of the poor investment outlook in the US….

[peterk2001]

Avoid Del Dios Highway in the morning at all costs…..One area of RSF to consider is the area in and around the Rancho Santa fe farms golf club….It connects to Carmel Valley via Rancho Santa Farms Rd. to Carmel Valley road to the 56 and avoids the northern Del Dios Highway which is one lane and gets bogged down in the morning and afternoon…

Its nice that you have 3.5 million to spend!!! Good luck……Need to adopt another son?????????????

[peterk2001]

sdcellar –

thanks again for the insight…Just to clarify from your earlier post, I was saying that La Jolla is not all that it is cracked up to be…The schools are part of the San Diego Unified School District, thus are subject to busing and certain “liberal ideas” which dumb things down toward the mean, etc.(i won’t go into details”….But mainly I was saying that offers have been getting accepted well below the lower end of the value range..Plus I live in one of those stupid gated communities in La Jolla where homes are sitting on the market for more than a year…

I think upper middle class families are flocking to the CV and that is why the prices are holding up…Doctors and lawyers are essentially recession proof…people always get sick and there are always lawsuits…

I am just trying to figure out if the CV will be stable in the short term or get sucked down with the rest of the market….

[peterk2001]

sdcellar –

thanks again for the insight…Just to clarify from your earlier post, I was saying that La Jolla is not all that it is cracked up to be…The schools are part of the San Diego Unified School District, thus are subject to busing and certain “liberal ideas” which dumb things down toward the mean, etc.(i won’t go into details”….But mainly I was saying that offers have been getting accepted well below the lower end of the value range..Plus I live in one of those stupid gated communities in La Jolla where homes are sitting on the market for more than a year…

I think upper middle class families are flocking to the CV and that is why the prices are holding up…Doctors and lawyers are essentially recession proof…people always get sick and there are always lawsuits…

I am just trying to figure out if the CV will be stable in the short term or get sucked down with the rest of the market….

[peterk2001]

sdcellar –

thanks again for the insight…Just to clarify from your earlier post, I was saying that La Jolla is not all that it is cracked up to be…The schools are part of the San Diego Unified School District, thus are subject to busing and certain “liberal ideas” which dumb things down toward the mean, etc.(i won’t go into details”….But mainly I was saying that offers have been getting accepted well below the lower end of the value range..Plus I live in one of those stupid gated communities in La Jolla where homes are sitting on the market for more than a year…

I think upper middle class families are flocking to the CV and that is why the prices are holding up…Doctors and lawyers are essentially recession proof…people always get sick and there are always lawsuits…

I am just trying to figure out if the CV will be stable in the short term or get sucked down with the rest of the market….

[peterk2001]

thanks…

I didn’t intend to stir up a hornet’s nest about Derby Hill in the CV…..I was mainly just suprised that the plan 3’s get snapped up at each phase release and rarely seem to fall out of escrow…That fact I am certain about as I have been to 5 phase releases and follow up with the sales office on a regular basis..

I am not really familiar with the CV but I get the impression that there is a premium for escaping the San Diego Unified School district and having all your neighbors be relatively stable professionals etc…I am not a real estate professional, but just have noted that the sales prices of 4000 sq. ft., relatively new homes actually sell in the middle of the value range as opposed to under it like in other areas…

But I could be wrong…..But thanks to everyone for their input…

[peterk2001]

thanks…

I didn’t intend to stir up a hornet’s nest about Derby Hill in the CV…..I was mainly just suprised that the plan 3’s get snapped up at each phase release and rarely seem to fall out of escrow…That fact I am certain about as I have been to 5 phase releases and follow up with the sales office on a regular basis..

I am not really familiar with the CV but I get the impression that there is a premium for escaping the San Diego Unified School district and having all your neighbors be relatively stable professionals etc…I am not a real estate professional, but just have noted that the sales prices of 4000 sq. ft., relatively new homes actually sell in the middle of the value range as opposed to under it like in other areas…

But I could be wrong…..But thanks to everyone for their input…

[peterk2001]

thanks…

I didn’t intend to stir up a hornet’s nest about Derby Hill in the CV…..I was mainly just suprised that the plan 3’s get snapped up at each phase release and rarely seem to fall out of escrow…That fact I am certain about as I have been to 5 phase releases and follow up with the sales office on a regular basis..

I am not really familiar with the CV but I get the impression that there is a premium for escaping the San Diego Unified School district and having all your neighbors be relatively stable professionals etc…I am not a real estate professional, but just have noted that the sales prices of 4000 sq. ft., relatively new homes actually sell in the middle of the value range as opposed to under it like in other areas…

But I could be wrong…..But thanks to everyone for their input…

[peterk2001]

to justbought

Thank you very much for your helpful comments…You gave me some good insight into Derby Hill…Would you mind sending me an e-mail to [email protected], if you have time I would like to speak to you on the phone a little more about the neighborhood and the new school that is opening up. I am pretty stressed about the whole situation.

thanks!
peter

[peterk2001]

to justbought

Thank you very much for your helpful comments…You gave me some good insight into Derby Hill…Would you mind sending me an e-mail to [email protected], if you have time I would like to speak to you on the phone a little more about the neighborhood and the new school that is opening up. I am pretty stressed about the whole situation.

thanks!
peter

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